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DAILY NEWS ANALYSIS from THE HINDU 24th September 2017 By Jatin Verma Educator Unacademy
Page-3: Iran tries to reconcile Syria and Hamas, rebuilding alliance. Iran is working to restore a lost link in its network of alliances in West Asia, trying to bring Hamas fully back into the fold after the Palestinian militant group had a bitter fall-out with Iranian ally Syria over that country's civil war Iran and its Lebanese ally Hezbollah are quietly trying to mediate a reconciliation between Syria and Hamas. If they succeed, it would shore up a weak spot in the alliance at a time when Iran has strengthened ties with Syria and Iraq, building a bloc of support across the region to counter Israel and the United States' Arab allies. But when Syria tipped into civil war, Hamas broke with President Bashar al-Assad and sided with the rebels fighting to oust him. The Syrian rebels are largely Sunni Muslims, like Hamas, and scenes of Sunni civilian deaths raised an outcry across the region against Mr.Assad, who belongs to the minority Alawite sect.
A bulwark Iran, meanwhile, has been one of Assad's strongest backers since the crisis in Syria began in 201 I pumping billions of dollars into the economy and sending advisers as well as Iranian-backed fighters to help him stay in power Hezbollah sent thousands of fighters, helping tip the war in Assad's favour against the rebels and is now helping in the fight against the Islamic State The reconciliation attempt comes after Hamas elected a new leadership and its main backers _ Qatar and Turkey, both strong supporters of the rebels in Syria have sought to improve relations with Iran. . Since Yehiyeh Sinwar took over Hamas leadership in the Gaza Strip n February, the group has been rebuilding those relations. e In August, a Hamas delegation visited Tehran and took part in President Hassan Rouhani's inauguration. This year, Hamas officials have held three meetings with Hezbollah leader Sheikh Hassan Nasrallah and relations have reportedly returned to normal.
West Asia: MILODLE EAST UZBEKISTAn TURKMENISTAN EGYPT SAU D I * .yadh ARABIA OMA SUDAN Arabian Sea
Business Pagel0:'"Interest rates, rupee hurting growth' . Lower interest rates, better exchange rate management and a demand push are imperative to cope with the present economic slowdown that has been led by a slump in the manufacturing sector. Reserve Bank of India needed to align its monetary policy to push growth as inflation targets are well under control, despite a spike last month The remarks assume significance in the backdrop of growth slowing to 5.7% in the first quarter, with the slowdown blamed on the lingering effects of demonetisation and de-stocking by producers ahead of the Goods and Services Tax regime's roll-out in July. Pointing to the central bank's heavy interventions in the foreign exchange market over the last three months to prevent excessive appreciation of the rupee, the real competitiveness of the currency has improved a little bit because the Chinese yuan has also been strengthening against the U.S. dollar. .
But it's still not enough to offset the losses on the exchange rate front in the last six to nine months. The response for reviving the affected sectors has to be across the board interest rates, exchange rates, creating more demand. In this regard,the silver lining was that worldwide export volumes were beginning to pick up significantly. . The Centre's reservations on the monetary policy adopted by the central bank were articulated in the Economic Survey's second volume released in August, where it was pointed out that: [il the RBl's inflation projections have been over-estimated by at least one percentage point for six of the 14 previous quarters and actual inflation had been below target for over ten months till August. [i] The Survey had said there was room for a 50 basis points to 100 basis points cut in policy rates by the RBl.
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